I feel for those who get really low rankings (at least, those who care). One of my friends got a TER of 14. It sounds low, but in a ranked system, lots of people would be in the same boat. Much lower and he'd have received a notice saying that TERs below 10 are not disclosed.
Congrats on finishing VCE, and on achieving so much in your school years, both academically and socially. While you might miss out on your top preference, you'll still be eligible for others. (And you shouldn't care what family and friends think: the ENTER is to help VTAC and the unis with enrollment, not to satisfy other people's expectations.)
Had you been badly wanting to do Psychology for years, this would be more of a disappointment, but really, you don't know what a course is really like until you do it (and quality of lecturers counts for more than your entrance score). What you need is a course that you enjoy and which leads you in a direction you like, and I reckon you'll get that.
PS. Don't change your top preferences, just to save kicking yourself if this year's ENTER cut-off is much lower than last year's. I recall seeing cut-off scores varying by 10 or more from one year to the next.